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Commodity Market: Gold price shoots up

Mumbai: price of yellow metal edged higher in the Kerala market. Gold prices rose for the third day in a row. Sovereign gold is trading at Rs 38,320, higher by Rs 120 per 8 gram. One gram gold is priced at Rs 4790, higher by Rs 15. Yesterday, the price of gold rose by Rs 480. Gold prices rose by Rs 1,320 in a week. Gold is currently trading at its highest level this month.

On the Multi Commodity Exchange (MCX), gold futures edged lower by 0.14% or Rs 74 to Rs 51,083 per 10. Silver futures were trading marginally lower by 0.% or Rs 12 at Rs 61,964 per kg.

Also Read; Forex Market: Indian rupee gains against US dollar, UAE dirham 

In the international market, price of spot gold  eased by 0.2% to $ 1,862.48 per ounce. It rose to its highest level since May 9 of $ 1,869.49 on Tuesday. US gold futures dipped by 0.2% to $ 1,861.60. Among other precious metals, silver dipped by 0.2% to $ 22.05 per ounce, platinum  gained by  0.% to $ 954.90 and palladium dropped by  0.5% to $ 1,996.30.


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